Fasadgruppen Group (FG) Q1 2026 earnings summary

Executive summary

• Q1 2026 was impacted by exceptionally cold weather in the Nordics and regulatory delays in the UK, leading to a significant drop in sales and profitability.

• Organic order backlog grew by up to 15%, reaching an all-time high of SEK 4.5 billion, mainly driven by the UK and Norway.

• The rights issue was oversubscribed, raising SEK 488 million and strengthening the balance sheet.

• Profit for the period was SEK -53.2 million, with EPS at SEK -0.99, reflecting a challenging quarter.

Financial highlights

• Net sales for Q1 2026 were SEK 994.9 million, down 15.2% year-over-year; organic sales declined 11.7%.

• Adjusted EBITA was SEK 5.1 million, sharply down from SEK 76.6 million in Q1 2025; margin dropped to 0.5% from 6.5%.

• Cash flow from operating activities for the last twelve months reached SEK 561 million, up from SEK 371 million.

• Cash conversion improved to 122% (LTM) from 89%.

• Cash and cash equivalents at period end were SEK 294.2 million.

Outlook and guidance

• Underlying business fundamentals and demand remain strong, with a robust and growing order backlog.

• No projects have been lost; delays are expected to be temporary, with execution expected to pick up as weather improves.

• BSR in the UK aims to reduce project approval times from 36 to 12 weeks by December 2026, which should benefit future execution.

• Long-term growth potential supported by urbanisation, ageing properties, and energy efficiency trends.